How could I use my HELOC to brrrr? Would I buy the properly all cash and hope I get a good arv to pay back the HELOC. And would that allow me to buy more properties such as foreclosures that are cash only? Or is it better to use it as a down payment fix it up and refinance after seasoning period?? I would really appreciate some insight to these questions thanks BP family
I use HELOC to cash purchase property and then refi after rehab to pay back HELOC. HELOC interest in tax deductible as long as you use HELOC for only investing purpose. Depending on ARV you may have to use rental income to pay it back all.